Do you think Bitcoins has a great future in India? - page 5.

Winalunt

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Tell Me What A Man Is Without Pride .

Quote from: torrentheaven on August 27, 2015, 06:52:34 PM

Hello Friends,

Visited India few weeks back, and as we all know that it is a highly populated country, with some very great corporates and highly educated people, Some big IT companies also have their offices in India, But for my surprise very few of the population of India are aware about the bitcoins.

What could be the reason behind it?

Lack of awareness level
Government not supporting bitcoins
Banks not supporting too
Or people resist change

Looking at the population of India, If bitcoins gets positive feedback even from the half of the population from Indians, I believe it would a win - win situation for the bitcoin community.

Are you insane ?? you are expecting a change in currency from half of a country where 100% of the population is closeminded ,selfish and religion addicts..
I would say even expecting more than 2% (12 million people) will not be more than a dream..

zero01

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Yes, of course
if in india wear bitcoin, certainly the future of bitcoin there could be better

Amph

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if they are not going to suddenly change their mind on the matter and ban, heavy restrict it, i guess it could have a future like in any other countries where there ar enot heavy rule, it only a matter of what their governments will do

i thinl that right now the price play an important role, because until we have a good marketcap bitcoin will be simply ignored by the majority of the governments

irfan01

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I think, wherever there is bitcoin will definitely get better, so I guess in india also bitcoin has a great future
the more widely known bitcoin then the better

MinerHQ

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Quote from: Possum577 on August 27, 2015, 08:15:04 PM

Bitcoin has a great future anywhere there is electricity and commerce.

You need electricity to access the blockchain.

You need commerce to provide opportunity for bitcoin to be obtained or used.

I think it's that simple.

So India? Yes.

If you talk about electricity then India may fail because most of the states do not have a electricity even for daily normal usage during summer time.

Shinpako09

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Not only in India, bitcoin has also a great future in other country if there countrymen and goverment will adopt the bitcoin.

Pab

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Like i ve been reading,India Central Bank is very open for Btc
it can be good specially now whan developing countries may suffer,becouse of economic chaos

Possum577

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Loose lips sink sigs!

Bitcoin has a great future anywhere there is electricity and commerce.

You need electricity to access the blockchain.

You need commerce to provide opportunity for bitcoin to be obtained or used.

I think it's that simple.

So India? Yes.

torrentheaven

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Activity: 952

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Quote from: bitcoinmasterlord on August 27, 2015, 07:12:02 PM

Bitcoin is hit by a rule of the RBI regulations in India. As per the current law banking institutions can only release any prepaid payment instruments. In some senses bitcoin may be considered a prepaid payment instrument because to get bitcoin you need to initially make payment in either dollars or rupees or any other currencies. Current RBI regulations do not permit this.

However there is nothing which prevents people from trading and using bitcoin among themselves. For example, if you are offering services for me and are willing to take payment in bitcoin that cannot really be prevented. Remember however that if we enter into a contract which says that you will be paid in bitcoin, that contract will not be valid because the compensation is not recognized by law.

I think as of now it is not so popular but sooner or later it may become popular Wink

That is true, and I believe that people must be using bitcoins for online transactions but are not disclosing it that they are already using it, but if people in India starts accepting and adopting bitcoins than it can have a greater impact on bitcoin community, as we want that more and more users gets involved into bitcoins as we want that the value of bitcoin should be stable in future.

bitcoinmasterlord

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Bitcoin is hit by a rule of the RBI regulations in India. As per the current law banking institutions can only release any prepaid payment instruments. In some senses bitcoin may be considered a prepaid payment instrument because to get bitcoin you need to initially make payment in either dollars or rupees or any other currencies. Current RBI regulations do not permit this.

However there is nothing which prevents people from trading and using bitcoin among themselves. For example, if you are offering services for me and are willing to take payment in bitcoin that cannot really be prevented. Remember however that if we enter into a contract which says that you will be paid in bitcoin, that contract will not be valid because the compensation is not recognized by law.

I think as of now it is not so popular but sooner or later it may become popular Wink

torrentheaven

hero member

Activity: 952

Merit: 1000

Hello Friends,

Visited India few weeks back, and as we all know that it is a highly populated country, with some very great corporates and highly educated people, Some big IT companies also have their offices in India, But for my surprise very few of the population of India are aware about the bitcoins.

What could be the reason behind it?

Lack of awareness level
Government not supporting bitcoins
Banks not supporting too
Or people resist change

Looking at the population of India, If bitcoins gets positive feedback even from the half of the population from Indians, I believe it would a win - win situation for the bitcoin community.

Topic: Do you think Bitcoins has a great future in India? - page 5. (Read 4922 times)